Buscando Resources Corp. Acquires Element One Hydrogen Ltd. for Clean Energy Initiative
Key Ideas
- Buscando Resources Corp. has agreed to acquire 100% of Element One Hydrogen Ltd., a subsidiary of Granite Creek Copper Ltd., to expand its critical minerals asset base and focus on clean energy initiatives.
- The acquisition includes the Star copper-nickel-PGM project in northern British Columbia and the Union Bay nickel-copper-PGM project in Alaska, both with potential for utilizing hydrogen stimulation technologies for natural hydrogen production.
- The company plans to complete a non-brokered private placement to raise funds for the acquisition, work programs, future property acquisitions, and general administrative expenses.
- The Acquisition is subject to standard closing conditions and regulatory approvals, expected to be finalized by May 30, 2025, while the private placement Offering is expected to close on or before May 23, 2025.
Buscando Resources Corp. has announced the acquisition of 100% of Element One Hydrogen Ltd., a subsidiary of Granite Creek Copper Ltd., in a strategic move to expand its critical minerals asset base and venture into clean energy initiatives. The acquisition includes the Star copper-nickel-platinum group metals (PGM) project in northern British Columbia and the Union Bay nickel-copper-PGM project in Alaska. Both projects are located in ultramafic settings that have the potential to utilize hydrogen stimulation technologies for natural hydrogen production from subsurface rock formations.
The Star Project in northern British Columbia is situated near the Omineca resource road and hydro-electric power, making it strategically located for development. The property has been explored for copper, nickel, and PGM previously, and there are plans to explore the potential for hydrogen production through stimulation. The Union Bay Project in Alaska is under an option agreement for future development.
As part of the acquisition, Buscando Resources Corp. will pay CAD$150,000 to Granite Creek Copper Ltd. The transaction is subject to standard closing conditions and regulatory approvals, with an expected completion date around May 30, 2025. In addition, the company plans to conduct a non-brokered private placement to raise funds for various purposes, including the acquisition, work programs, potential property acquisitions, and general administrative expenses. The private placement is expected to close on or before May 23, 2025.
Through these strategic moves, Buscando aims to enhance its presence in the critical minerals sector, especially with a focus on exploring clean energy opportunities. The company's president, Kyler Hardy, highlighted the synergies between the Star Project and the company's flagship Foggy Mountain project, indicating a comprehensive approach to resource development.
Topics
Projects
Investing
Clean Energy
Acquisition
Mining
Critical Minerals
Private Placement
Strategic Opportunity
Asset Expansion
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